Skip to Main Content

CBS PhD School logo

Advanced Microeconomics - 7 ECTS

Date and time

Tuesday 19 September 2023 at 09:30 to Thursday 7 December 2023 at 15:30

Registration Deadline

Friday 15 September 2023 at 23:55


Porcelænshaven - room PH16A 2.80 (second floor), Porcelænshaven 16A, 2000 Frederiksberg Porcelænshaven - room PH16A 2.80 (second floor)
Porcelænshaven 16A
2000 Frederiksberg

Advanced Microeconomics - 7 ECTS

Course coordinator: Anette Boom, Department of Economics (MSC)


Associate Professor Anette Boom (AB)
Department of Economics, CBS

Head of Department Alexander Christopher Sebald (ACS)
Department of Economics, CBS

Associate Professor Karol Szwagrzak (KS)
Department of Economics, CBS

Associate Professor Herdis Steingrimsdottir (HS)
Department of Economics, CBS


The course is compulsory for the PhD students of Copenhagen Business School’s Department of Economics, but also open to other PhD students with knowledge of intermediate microeconomics, some econometrics, as well as mathematical tools like multivariate calculus, constrained maximization, and linear algebra, and basic probability and statistics.


The Course starts on September 19, 2023, in week 38 with an introduction and two sessions (September 27, and 28, and October 4, and 5) in week 39 and week 40. It then continues from week 46 until week 49 (see the details in the below lecturing plan).

Aim of the Course and Learning Objectives

After the course, students shall be able to:

  • develop an understanding of economic theory as applied in cutting-edge research across all fields of economics,
  • demonstrate knowledge of the concepts, models, methods and tools of advanced microeconomic theory as discussed during the course,
  • read and understand international research papers expanding the frontier of microeconomic research,
  • apply and adapt advanced microeconomic models to specific research questions,
  • and evaluate microeconomic models used by other scholars.

Course content

The aim of the course is to get the students acquainted with the most important models and methods used in advanced microeconomic theory in order to enable them to apply these models and methods later in their own research. This is done by introducing the students to either very influential and/or recent academic research.

The course covers the following topics:

  1. Decisions Theory (Revealed preferences, Uncertainty, Risk, and Time preferences)
  2. Game Theory,
  3. Mechanism Design and Contract Theory.

Teaching methods

Lectures and student workshops.


Attendance is obligatory. In order to pass the course, students have to master three different tasks in a satisfactory manner with the possibility of retaking each of them once.

1.        The students have to either hand in the solutions to one problem-set or to hand in a research proposal (approximately 10 pages) on the basis of the microeconomic theory taught in the class. The hand out date for the problem set is January 5, 2024 and hand in date for either the research proposal or the solutions of the problem set is January 19, 2024.

2.        They have to present one academic research article mentioned in the lecture plan below and comment on the presentation of another student in class.

3.        They have to write a referee report (approximately 4 pages) on an unpublished microeconomic theory paper of their own choice and hand it in until December 31, 2023.

Course literature (Indicative)

Selected Chapters from (see which chapters here):

Bolton, Patrick and Mathias Dewatripont (2005), Contract Theory, MIT Press: Cambridge, MA.

Chambers, Christopher P. and Federico Echenique (2016), Revealed Preference Theory, Econometric Society Monograph, Cambridge University Press: Cambridge, UK.

Gilboa, Itzhak (2009), Theory of Decision under Uncertainty, Econometric Society Monographs 45, Cambridge: Cambridge University Press.

Jackson, Matthew O., Mechanism Theory (December 26, 2014). Available at SSRN: or

Krishna, Vijay (2010), Auction Theory, Second Edition, Academic Press: Amsterdam et al.

Mas-Colell, Andreu, Michael D. Whinston and Jerry R. Green (1995), Microeconomic Theory, Oxford University Press: New York and Oxford.

Osborne, Martin and Ariel Rubinstein (1994), A Course in Game Theory, MIT Press: Cambridge, MA.

Selected Journal Articles

Teaching hours

The class includes 44 confrontation hours.

Lecturing Plan



Day 1- Week 38


Introduction (KS)

Read before the lecture: Chapter 1 in Mas-Colell et al. (1995), Chapters 8, 10, 14 and 17  in Gilboa (2009).

The lecture then provides an overview of course and guidance on how to approach the readings in rest of the programme.

Day 2- Week 39



Revealed Preferences, Risk and Uncertainty (KS)

Chapters 8, 10, 14 and 17 in Gilboa (2009),
Chapters 2 and 3 from Chambers and Echenique (2016).

Day 3 - Week 39


Risk and Uncertainty (KS)

Gilboa and Schmeidler (1989), Tversky and Kahneman (1992),  Klibanoff et al. (2005), Bordalo, Gennaioli and Schleifer (2012).


Day 4 - Week 40


Time Preferences, Peferences for Flexibility, Temptation and Self-control  (KS)

Bleichrodt et al. (2008), Fishburn and Rubinstein (1982), Gul and Pesendorfer (2001)


Day 5 - Week 40


Stochastic Choice (KS)


Chapter 7 in Chambers and Echenique (2016), Gul and Pesendorfer (2006)


Day 6 - Week 46


Game Theory (KS)

Osborne and Rubinstein (1994), Chapter 1,2,6 & 11 and 12

The lecture gives you an overview over important game theoretic concepts which are used in the literature on which the rest of the course is based.

Day 7 - Week 46


Mechanism Design (KS)

Jackson (2014) and Chapter 23 in Mas-Colell et al. (1995)

Day 8 - Week 48


Experiments on Belief Dependent Preferences, Guilt and Salience (ACS)

Bellemare, Sebald and Suetens (2018), Bellemare, Sebald and Suetens (2019), Nielsen, Sebald and Sørensen (2021)


Day 9 - Week 48


Student Workshops: Moral Hazard, Adverse Selection and Signalling (AB)

Students are divided into three groups and each presents one of the three topics. They can take inspiration from Bolton and Dewatripont (2005).

Day 10 - Week 48


Example of Empirical Research based on Microeconomic Theory (HS)

The lecture illustrates the relationship between theoretical microeconomic models and empirical research concerning real-world economic problems. For this purpose, HS will present one of her recent publications, Nielsson and Steingrimsdottir (2018), on gender discrimination.

Day 11 - Week 49


Auction Theory (AB)

Myerson (1981), Chapter 1, and 2 in Krishna (2010)

Day 12 - Week 49


The Theory of the Firm (AB)

Grosman and Hart (1986)

How to Write a Referee Report? (AB)

Berk, Harvey and Hirshleifer (2017)


Select payment methods:
CBS students: Choose CBS PhD students and the course fee will be deducted from your PhD budget.
Students from other Danish universities: Choose Danish Electronic Invoice (EAN). Fill in your EAN number, attention and possible purchase (project) order number. Do you not pay by EAN number please choose Invoice to pay via electronic bank payment (+71). 
Students from foreign universities: Choose Payment Card. Are you not able to pay by credit card please choose Invoice International to pay via bank transfer. 
Please note that your registration is binding after the registration deadline.

Event Location

Click to view the event location on Google Maps >

Organizer Contact Information

CBS PhD School
Nina Iversen

Phone: +45 3815 2475

Organizer Contact Information

CBS PhD School
Nina Iversen

Phone: +45 3815 2475